Energy solutions firm Korra Energi reported a 42.5% year-on-year (YoY) increase in gross profit to EGP 373 million during the first quarter (Q1) of 2026, backed by the positive performance of the energy and construction segment, which recorded a 49.4% increase in gross profit, according to the company’s press release.

Operating profit climbed 31.9% to EGP 260.2 million, the release added.

Meanwhile, revenues held steady at EGP 1.77 billion, compared with EGP 1.78 billion in the same quarter of 2025. The agricultural export segment supported results, with revenues up 46.9% to EGP 331.1 million.

Commenting on the results, the company’s CEO, Ayman Korra, said: “The recent financial period marks a pivotal milestone for KORRA, reinforcing our position as a premier provider of integrated energy and engineering solutions in Egypt. Our robust performance underscores the strength of our operational strategy and our agility in seizing opportunities in the energy, construction, and agricultural export sectors.”

He noted that despite a volatile environment, the company showed strong resilience by focusing on efficiency and productivity, investing in human capital, and diversifying revenue streams, reinforcing the foundations of sustainable growth and enhancing value creation for stakeholders.

Meanwhile, net profit remained broadly unchanged at EGP 119 million despite foreign exchange losses of EGP 14.6 million, compared to foreign exchange gains of EGP 52.1 million recorded during Q1 2025. The company noted that the stability of net earnings reflects its strong operational performance and ability to offset non-operational challenges while maintaining solid profitability levels.

On another front, the company has secured new credit facilities from Bank of Alexandria and Kuwait Finance House to fund the execution of the Gulf of Suez 500 kilovolt (kV) transmission lines project. The facilities include EGP 1 billion from Bank of Alexandria for Lot 3 of the project, comprising EGP 350 million in guarantee letters and EGP 650 million in overdraft facilities, as well as EGP 300 million and $ 15.56 million from Kuwait Finance House for Lot 1. The latter package includes EGP 160 million and $ 2.76 million for guarantee letters, $12.8 million for letters of credit and collection documents, and EGP 140 million in overdraft facilities to support supplier payments and working capital requirements during project execution.

Korra started trading on the Egyptian Exchange (EGX) on June 11, 2026, following an offering of a  11% stake. Korra is a leading Egyptian provider of integrated energy solutions and engineering services, operating across energy, construction, infrastructure, and agricultural export sectors.